The European Parliament is preparing to vote in July on a proposal aimed at enhancing the European Union’s technological sovereignty. The initiative, led by Member of the European Parliament (MEP) Sarah Knafo of the Reconquête party, seeks to address the EU’s lag in critical digital sectors compared to global competitors like the United States and China.
The proposal, developed by the Committee on Industry, Research and Energy (ITRE), calls for the removal of barriers to private investment in innovation, the promotion of energy-efficient computing and blockchain infrastructure, and the safeguarding of privacy in digital finance. It also emphasizes the need for a European policy to strengthen the digital ecosystem.
Knafo, a proponent of Bitcoin, has expressed optimism about the proposal’s prospects, stating that if right-wing parties support the text, there is a good chance of securing a majority. However, she acknowledged that left-wing parties are pressuring the center-right to oppose the measure. She emphasized that the report is non-binding and intended to define political guidelines rather than establish legislation.
Knafo has been a vocal critic of the European Central Bank’s plans for a digital euro, advocating instead for a strategic Bitcoin reserve. In contrast, ECB officials, including President Christine Lagarde, have dismissed the idea of a Bitcoin reserve, citing the need for central bank reserves to be “liquid, secure, and safe.”
The upcoming vote will determine whether the European Parliament adopts the proposed guidelines to bolster the EU’s position in the digital landscape.
